Why AT&T Shares Are Falling Today
Shares of AT&T (NYSE: T) fell 5% on Tuesday after influential research analyst Craig Moffett downgraded the stock to a sell, warning that the telecom giant's businesses are all under pressure and predicting that AT&T will struggle to hit the guidance it recently released.
AT&T is a company in transition, having paid $67 billion to acquire DirecTV in 2015 and $85 billion to buy Time Warner last year in an attempt to transform itself into an entertainment giant. The acquisitions have piled debt onto the balance sheet and attracted the scrutiny of activists.
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